Elon Musk claims that decentralized prediction markets are more accurate than existing opinion polls

Tesla CEO Elon Musk has claimed that the forecasts made by Polymarket, a decentralized prediction market, may be more accurate than traditional polls.
On the 7th (local time), Musk announced through the social media platform X (formerly Twitter) on the 6th that Polymarket has predicted the outcome of the 2024 US presidential election based on traditional opinion polls.
The comments come as he ramps up his support for Republican candidate Donald Trump, who is set to become president of the United States.
Musk gave a speech in support of Trump at a campaign event held in Las Vegas on October 6th, the day the post was published. Trump was also seen at the Poly Market supporting Democratic candidate Kamala Harris.
"Trump is leading Kamala by 3% in the betting market, which is more accurate than the polls because real money is at stake," Musk said.
PolyMarket is a decentralized prediction market where users can bet USD Coin (USDC) on the outcome of certain events.
It is not yet clear how accurate this is.